This Company File Needs to be Updated: Here’s What to Do

This Company File Needs to be Updated

Facing an error in QuickBooks Desktop can be a roadblock in business operations and the seamless functioning of the software. These days, many QuickBooks users have seen a message saying, “This Company file needs to be updated.”

This error indicates that the company file requires adjustment to align with the upgraded version of QuickBooks Desktop; it means the file was made with an older version and hasn’t been updated for the newer QuickBooks version that you currently have, triggering the problem in accessing the file.

QuickBooks can only open files created with the same or older versions, so you need to update everything to work smoothly.

With the help of this comprehensive guide, you can fix the error immediately. However, resolving these technical errors is not easy; in that case, you need expert help. To get the expert’s help, feel free to give us a call on our 1.855.738.2784.

Reasons why QuickBooks is giving prompt to update the Company Files

We are listing down the possible reasons that triggered the error message
“This company file needs to be updated.”

1. You log into Windows and open QuickBooks without having Admin privileges.
2. Your company file is already open over a network.
3. Creating a company file on an older version of QuickBooks and using it on a newer version of QuickBooks may trigger this error.
4. Opening a specific file using different ways can trigger the error.

Read More: How do I fix error 6000 80 in QuickBooks desktop?

Update “This company file needs to be updated” Error Message

Follow the below solution to resolve the error immediately and ensure the swift functioning of QuickBooks.

Solution 1: Open and Update a Company File in QuickBooks Desktop

Here’s a step-by-step instructions to open and update a company file in QuickBooks Desktop.

Note: Always remember to have a backup of the company files before performing any updates to ensure you have a safe copy of your data.

Before following the steps, make sure that you are logged into QuickBooks Desktop as an admin user.

1. Start by opening your version of QuickBooks Desktop software.
2. Click on the “File” menu.
3. Choose “Open or Restore Company.”
4. After selecting the “Open a company file” option, click “Next.”
5. Highlight the specific data file you want to open.
6. After highlighting your data file, click on the “Open” button.
7. QuickBooks will show you information in the “Update Company File for New Version” pane.
8. Read this information carefully.
9. There will be a box to check to signify that you understand the update. Check this box.
10. Next, click on “Update Now” to proceed to update the company file.
11. You will see the instructions on how to back up your file.
12. Follow these instructions carefully, and make sure to note where you save the file.
13. Now, a message on the screen “You are about to open a company file using a newer version of QuickBooks…Do you want to continue?” appears.
14. Click on “Yes.”

Hopefully, after following the above steps, you are no longer getting the “This Company File Needs to be Updated” error message. If you are still facing the error and can’t access the files, it is advisable to seek professional help. You can contact our QuickBooks support team by dialing 1.855.738.2784.

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